Industrial IoT Market by Device & Technology, Connectivity Type, Software, Vertical (Manufacturing, Energy, Oil & Gas, Healthcare, Retail, Transportation, Metals & Mining, Agriculture), and Geography - Global Forecast to 2026
The global IIoT market size is expected to grow from USD 76.7 billion in 2021 to USD 106.1 billion by 2025, at a CAGR of 6.7% during the forecast period. The growth of the IIoT sector is driven by factors such as technological advancements in semiconductor and electronic devices, increased use of cloud computing platforms, standardization of IPv6, and support from governments of different countries for R&D activities related to IIoT.
“Networking technology to hold the largest share of the IIoT market in 2026.”
Networking technology is expected to hold the largest share of the IIoT industry by device & technology in 2026. Both wired and wireless technologies are integral for machine-to-machine (M2M) connectivity to gather real-time data from industrial machinery across different geographies.
“Market for manufacturing to hold the largest market share during the forecast period.”
Owing to the increasing adoption of new technologies, such as global positioning systems, remote sensing, and variable rate technology, in precision farming, the IIoT market for the agriculture vertical is expected to grow at the largest CAGR during the forecast period.
“APAC to hold the largest share of the IIoT industry during the forecast period.”
APAC is expected to be the largest market for IIoT during the forecast period. Dense population and growing per capita income, along with large-scale industrialization and urbanization, are some of the major factors driving the growth of the IIoT market in APAC.
Breakdown of profile of primary participants:
Research Coverage
The IIoT market has been segmented based on device & technology, software, connectivity, vertical, and geography. The report describes the major drivers, restraints, challenges, and opportunities pertaining to the IIoT industry and forecasts the same till 2026.
Key Benefits of Buying the Report
The report would help leaders/new entrants in this market in the following ways.
1. This report segments the IIoT market comprehensively and provides the closest approximations of the overall market size and that of the subsegments across different industries and regions.
2. The report helps stakeholders understand the pulse of the market and provides them the information on key market drivers, restraints, challenges, and opportunities.
3. This report would help stakeholders understand their competitors better and gain more insights to enhance their positions in the business. The competitive landscape section includes competitor ecosystem, product launches, partnerships/ collaboration/agreements, and mergers & acquisitions carried out in the IIoT market.
“Networking technology to hold the largest share of the IIoT market in 2026.”
Networking technology is expected to hold the largest share of the IIoT industry by device & technology in 2026. Both wired and wireless technologies are integral for machine-to-machine (M2M) connectivity to gather real-time data from industrial machinery across different geographies.
“Market for manufacturing to hold the largest market share during the forecast period.”
Owing to the increasing adoption of new technologies, such as global positioning systems, remote sensing, and variable rate technology, in precision farming, the IIoT market for the agriculture vertical is expected to grow at the largest CAGR during the forecast period.
“APAC to hold the largest share of the IIoT industry during the forecast period.”
APAC is expected to be the largest market for IIoT during the forecast period. Dense population and growing per capita income, along with large-scale industrialization and urbanization, are some of the major factors driving the growth of the IIoT market in APAC.
Breakdown of profile of primary participants:
- By Company Type: Tier 1 = 55%, Tier 2 = 20%, and Tier 3 = 25%
- By Designation: C-level Executives = 40%, Directors = 35%, and Others = 25%
- By Region: North America = 45%, Europe = 22%, APAC = 33%
Research Coverage
The IIoT market has been segmented based on device & technology, software, connectivity, vertical, and geography. The report describes the major drivers, restraints, challenges, and opportunities pertaining to the IIoT industry and forecasts the same till 2026.
Key Benefits of Buying the Report
The report would help leaders/new entrants in this market in the following ways.
1. This report segments the IIoT market comprehensively and provides the closest approximations of the overall market size and that of the subsegments across different industries and regions.
2. The report helps stakeholders understand the pulse of the market and provides them the information on key market drivers, restraints, challenges, and opportunities.
3. This report would help stakeholders understand their competitors better and gain more insights to enhance their positions in the business. The competitive landscape section includes competitor ecosystem, product launches, partnerships/ collaboration/agreements, and mergers & acquisitions carried out in the IIoT market.
1 INTRODUCTION
1.1 STUDY OBJECTIVES
1.2 DEFINITION
1.3 INCLUSION AND EXCLUSION
1.4 STUDY SCOPE
1.4.1 MARKETS COVERED
FIGURE 1 INDUSTRIAL IOT MARKET
1.4.2 YEARS CONSIDERED
1.5 CURRENCY
1.6 STAKEHOLDERS
1.7 SUMMARY OF CHANGES
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
2.1.1 SECONDARY AND PRIMARY RESEARCH
FIGURE 2 RESEARCH FLOW
FIGURE 3 INDUSTRIAL IOT MARKET: RESEARCH DESIGN
2.1.2 SECONDARY DATA
2.1.3 PRIMARY DATA
2.1.3.1 Primary interviews with experts
2.1.3.2 Key industry insights
2.1.3.3 Breakdown of primary interviews
2.2 MARKET SIZE ESTIMATION
2.2.1 BOTTOM-UP APPROACH
2.2.1.1 Arriving at market size using bottom-up approach (demand side)
FIGURE 4 BOTTOM-UP APPROACH: MARKET SIZE ESTIMATION METHODOLOGY
2.2.2 TOP-DOWN APPROACH
2.2.2.1 Arriving at market size using top-down approach (supply side)
FIGURE 5 TOP-DOWN APPROACH: MARKET SIZE ESTIMATION METHODOLOGY
2.3 RESEARCH ASSUMPTIONS
2.4 LIMITATIONS
2.5 RISK ASSESSMENT
2.6 DATA TRIANGULATION
FIGURE 6 DATA TRIANGULATION
3 EXECUTIVE SUMMARY
3.1 PRE-COVID-19 SCENARIO: INDUSTRIAL IOT MARKET
TABLE 1 PRE-COVID-19 SCENARIO: INDUSTRIAL IOT MARKET, 2020–2026
3.2 POST-COVID-19: REALISTIC SCENARIO
TABLE 2 POST-COVID-19 REALISTIC SCENARIO: INDUSTRIAL IOT MARKET, 2020–2026
3.3 POST-COVID-19: OPTIMISTIC SCENARIO
TABLE 3 POST-COVID-19 OPTIMISTIC SCENARIO: INDUSTRIAL IOT MARKET, 2020–2026
3.4 POST-COVID-19: PESSIMISTIC SCENARIO
TABLE 4 POST-COVID-19 PESSIMISTIC SCENARIO: INDUSTRIAL IOT MARKET, 2020–2026
FIGURE 7 INDUSTRIAL IOT MARKET: REALISTIC, PESSIMISTIC, AND OPTIMISTIC RECOVERY SCENARIOS
3.5 IMPACT OF COVID-19 ON INDUSTRIAL IOT MARKET
FIGURE 8 WIRELESS CONNECTIVITY SEGMENT TO RECORD HIGHEST CAGR IN INDUSTRIAL IOT MARKET DURING FORECAST PERIOD
FIGURE 9 MANUFACTURING EXECUTION SYSTEMS TO DOMINATE INDUSTRIAL IOT MARKET DURING FORECAST PERIOD
FIGURE 10 NETWORKING TECHNOLOGY TO DOMINATE INDUSTRIAL IOT MARKET DURING FORECAST PERIOD
FIGURE 11 MANUFACTURING INDUSTRY TO DOMINATE INDUSTRIAL IOT MARKET DURING FORECAST PERIOD
FIGURE 12 INDUSTRIAL IOT MARKET IN ASIA PACIFIC TO RECORD HIGHEST CAGR DURING FORECAST PERIOD
4 PREMIUM INSIGHTS
4.1 ATTRACTIVE OPPORTUNITIES IN INDUSTRIAL IOT MARKET
FIGURE 13 GROWING DEMAND FROM MANUFACTURING SECTOR DRIVES GROWTH OF INDUSTRIAL IOT MARKET DURING FORECAST PERIOD
4.2 INDUSTRIAL IOT MARKET, BY VERTICAL
FIGURE 14 MANUFACTURING TO HOLD LARGEST SHARE OF INDUSTRIAL IOT MARKET DURING FORECAST PERIOD
4.3 INDUSTRIAL IOT MARKET IN ASIA PACIFIC, BY VERTICAL
FIGURE 15 MANUFACTURING AND CHINA TO HOLD LARGEST SHARES OF INDUSTRIAL IOT MARKET IN ASIA PACIFIC IN 2021
4.4 INDUSTRIAL IOT MARKET, BY GEOGRAPHY
FIGURE 16 US TO HOLD LARGEST SHARE OF INDUSTRIAL IOT MARKET IN 2021
5 MARKET OVERVIEW
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
FIGURE 17 MARKET DYNAMICS: INDUSTRIAL IOT MARKET, 2021
5.2.1 DRIVERS
5.2.1.1 Rapid adoption of artificial intelligence (AI) and Internet of Things (IoT) in manufacturing sector
FIGURE 18 IOT CONNECTED DEVICES, 2020–2026
5.2.1.2 Increased use of cloud computing platforms
5.2.1.3 Standardization of IPv6
TABLE 5 ADOPTION OF IPV6 IN DIFFERENT REGION, 2020
5.2.1.4 Support from governments of various countries for R&D activities related to IIoT
FIGURE 19 INDUSTRIAL IOT MARKET: IMPACT ANALYSIS OF DRIVERS
5.2.2 RESTRAINTS
5.2.2.1 Incompatibility of legacy equipment with communication networks
5.2.2.2 Lack of skilled engineers conversant with new developments in AI and IoT technologies
FIGURE 20 INDUSTRIAL IOT MARKET: IMPACT ANALYSIS OF RESTRAINTS
5.2.3 OPPORTUNITIES
5.2.3.1 Growing application of AI and IoT in medical sector during pandemic
5.2.3.2 Predictive maintenance of machinery
FIGURE 21 INDUSTRIAL IOT MARKET: IMPACT ANALYSIS OF OPPORTUNITIES
5.2.4 CHALLENGES
5.2.4.1 Susceptibility of IoT technologies to cyberattacks
5.2.4.2 Maintenance and updates of IIoT systems
FIGURE 22 INDUSTRIAL IOT MARKET: IMPACT ANALYSIS OF CHALLENGES
5.3 VALUE CHAIN ANALYSIS
FIGURE 23 INDUSTRIAL IOT MARKET: VALUE CHAIN
5.4 TRENDS AND DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESS
FIGURE 24 EDGE COMPUTING TO PRESENT NEW GROWTH OPPORTUNITIES
FOR IIOT COMPANIES
5.5 PORTER’S FIVE FORCES ANALYSIS
TABLE 6 INDUSTRIAL IOT MARKET: PORTER’S FIVE FORCES ANALYSIS, 2020
TABLE 7 INDUSTRIAL IOT MARKET: PORTER’S FIVE FORCES ANALYSIS, 2021-2026
5.6 CASE STUDIES
5.6.1 DIGITAL ROADMAP TO CONNECT 20 PLANTS - ALTIZON’S DATONICS
5.6.2 INTEGRATION OF VARIOUS PRODUCTION LINES USING TELIT’S OFFERING
5.6.3 DIGITAL TRANSFORMATION USING COGNIZANT’S UTILITIES TECHNOLOGY EXPERTISE
5.7 TECHNOLOGY ANALYSIS
5.7.1 CLOUD COMPUTING
5.7.2 5G
5.7.3 EDGE COMPUTING TECHNOLOGY
5.8 INDUSTRIAL IOT MARKET: ECOSYSTEM
TABLE 8 INDUSTRIAL IOT MARKET: ECOSYSTEM
FIGURE 25 KEY PLAYERS IN INDUSTRIAL IOT MARKET
5.9 PRICING ANALYSIS
5.9.1 INDUSTRIAL ROBOTS
TABLE 9 AVERAGE SELLING PRICE OF INDUSTRIAL ROBOTS
5.9.2 MACHINE CONDITION MONITORING SYSTEMS
TABLE 10 AVERAGE SELLING PRICE (ASP) OF MACHINE CONDITION MONITORING SENSORS
TABLE 11 AVERAGE SELLING PRICE (ASP) OF VIBRATION MONITORING SYSTEMS
5.10 TRADE AND TARIFF ANALYSIS
5.10.1 IMPORTS AND EXPORTS SCENARIO
FIGURE 26 IMPORTS DATA FOR MACHINE CONDITION MONITORING PRODUCTS, BY REGION, 2016–2020 (USD MILLION)
TABLE 12 IMPORT DATA FOR MACHINE CONDITION MONITORING PRODUCTS, BY REGION, 2016–2020 (USD MILLION)
FIGURE 27 EXPORT DATAFOR MACHINE CONDITION MONITORING PRODUCTS, BY REGION, 2016–2020 (USD MILLION)
TABLE 13 EXPORT DATA FOR MACHINE CONDITION MONITORING PRODUCTS, 2016?2020 (USD MILLION)
5.10.2 TARIFF ANALYSIS
TABLE 14 TARIFF FOR MACHINE CONDITION MONITORING SYSTEMS EXPORTED
BY AUSTRALIA, 2020
TABLE 15 TARIFF FOR MACHINE CONDITION MONITORING SYSTEMS EXPORTED
BY US, 2020
TABLE 16 TARIFF FOR MACHINE CONDITION MONITORING SYSTEMS EXPORTED
BY BELGIUM, 2020
TABLE 17 TARIFF FOR MACHINE CONDITION MONITORING SYSTEMS EXPORTED
BY CHINA, 2020
5.11 PATENTS ANALYSIS
FIGURE 28 LIST OF MAJOR PATENTS FOR INDUSTRIAL IOT
TABLE 18 PATENTS IN INDUSTRIAL IOT MARKET
5.12 REGULATORY STANDARDS
5.12.1 RESTRICTION OF HAZARDOUS SUBSTANCES (ROHS) AND WASTE ELECTRICAL AND ELECTRONIC EQUIPMENT (WEEE)
5.12.2 IMPORT–EXPORT LAWS
5.12.3 US – FIPS SECURITY LEVEL
5.12.4 EU - CYBERSECURITY ACT 2019
5.12.5 US - NISTR 8295 (2ND DRAFT)
5.13 MARKET STANDARDS
TABLE 19 STANDARDS RELATED TO IOT IN MANUFACTURING
5.13.1 STANDARDS RELATED TO MACHINE CONDITION MONITORING
6 IIOT MARKET, BY DEVICE AND TECHNOLOGY
6.1 INTRODUCTION
TABLE 20 INDUSTRIAL IOT MARKET, BY DEVICE AND TECHNOLOGY, 2017–2020 (USD BILLION)
FIGURE 29 NETWORKING TECHNOLOGY SEGMENT TO HOLD LARGEST SIZE
OF IIOT MARKET FROM 2021 TO 2026
TABLE 21 INDUSTRIAL IOT MARKET, BY DEVICE AND TECHNOLOGY, 2021–2026 (USD BILLION)
6.2 SENSORS
6.2.1 SENSORS ARE EMERGING AS CRITICAL COMPONENTS OF IIOT ECOSYSTEM
6.3 RFID
6.3.1 GROWTH IN ADOPTION OF RFID TECHNOLOGY IN MANUFACTURING, RETAIL, AND HEALTHCARE INDUSTRIES
6.4 INDUSTRIAL ROBOTICS
6.4.1 INDUSTRIAL ROBOTICS ARE EXPECTED TO REVOLUTIONIZE DIFFERENT MANUFACTURING PROCESSES
6.5 DISTRIBUTED CONTROL SYSTEMS (DCS)
6.5.1 RISING USE OF DCS FOR REGULATORY CONTROLS IN MANUFACTURING SECTOR
6.6 CONDITION MONITORING
6.6.1 INCREASE IN DEMAND FOR CONDITION MONITORING TO ENSURE PROPER AND UNINTERRUPTED FUNCTIONING OF INDUSTRIAL MACHINERY
6.7 SMART METERS
6.7.1 SURGING ADOPTION OF SMART METERS IN DOMESTIC AND COMMERCIAL APPLICATIONS
6.8 ELECTRONIC SHELF LABELS (ESL)
6.8.1 GROWING USE OF ESL IN RETAIL STORES FOR PRICE AUTOMATION AND PRODUCT INFORMATION DISPLAY
6.9 CAMERAS
6.9.1 INCREASING ADOPTION OF CAMERAS FOR SECURITY AND SURVEILLANCE APPLICATIONS
6.10 SMART BEACONS
6.10.1 GROWING USE OF SMART BEACONS IN RETAIL VERTICAL
6.11 INTERFACE BOARDS
6.11.1 INTERFACE BOARDS POWER VARIOUS NODES OF INTELLIGENT TRANSPORTATION SYSTEMS IN TRANSPORTATION VERTICAL
6.11.2 MULTIFUNCTIONAL BOARDS
6.11.3 VEHICLE DETECTION BOARDS
6.11.4 COMMUNICATION BOARDS
6.12 YIELD MONITORS
6.12.1 YIELD MONITORS RECORD SITE-SPECIFIC YIELD DATA FOR AGRICULTURISTS
6.13 GUIDANCE & STEERING
6.13.1 INCREASING USE OF GUIDANCE & STEERING SYSTEMS IN PRECISION FARMING
6.14 GPS/GNSS
6.14.1 INCREASING USE OF GPS/GNSS FOR EFFECTIVE NAVIGATION OF VEHICLES
6.15 FLOW & APPLICATION CONTROL DEVICES
6.15.1 INCREASING USE OF FLOW AND APPLICATION CONTROL DEVICES IN VARIABLE RATE APPLICATIONS
6.16 NETWORKING TECHNOLOGY
6.16.1 NUMEROUS MACHINES AND SENSOR NODES ARE CONNECTED TO INTERNET USING NETWORKING TECHNOLOGIES
7 INDUSTRIAL IOT MARKET, BY CONNECTIVITY TECHNOLOGY
7.1 INTRODUCTION
TABLE 22 INDUSTRIAL IOT MARKET, BY CONNECTIVITY TECHNOLOGY, 2017–2020 (USD BILLION)
FIGURE 30 WIRELESS CONNECTIVITY IS EXPECTED TO GROW AT HIGHER CAGR
BETWEEN 2021 AND 2026
TABLE 23 INDUSTRIAL IOT MARKET, BY CONNECTIVITY TECHNOLOGY, 2021–2026 (USD MILLION)
7.2 WIRED TECHNOLOGIES
7.2.1 ETHERNET
7.2.1.1 Modbus
7.2.1.2 PROFINET
7.2.1.3 CC-Link
7.2.2 FOUNDATION FIELDBUS
7.3 WIRELESS TECHNOLOGIES
7.3.1 WI-FI
7.3.2 BLUETOOTH
7.3.3 CELLULAR TECHNOLOGIES
7.3.3.1 4G/LTE
7.3.3.2 5G
7.3.4 SATELLITE TECHNOLOGIES
8 INDUSTRIAL IOT MARKET, BY SOFTWARE
8.1 INTRODUCTION
TABLE 24 INDUSTRIAL IOT MARKET, BY SOFTWARE, 2017–2020 (USD BILLION)
FIGURE 31 REMOTE PATIENT MONITORING SEGMENT WITNESSED HUGE SURGE IN 2020
TABLE 25 INDUSTRIAL IOT MARKET, BY SOFTWARE, 2021–2026 (USD MILLION)
8.2 PRODUCT LIFECYCLE MANAGEMENT (PLM)
8.2.1 PLM ENABLES EFFECTIVE DEVELOPMENT AND INSTALLATION OF PRODUCTS
8.3 MANUFACTURING EXECUTION SYSTEMS (MES)
8.3.1 MES HELP PRODUCTION PLANTS WITH MATERIALS, ORDERS, AND PRODUCTION MANAGEMENT FUNCTIONALITIES
8.4 SCADA
8.4.1 SCADA SYSTEMS HELP IN MAINTAINING AND EFFECTIVELY CONTROLLING DIFFERENT INDUSTRIAL OPERATIONS
8.5 OUTAGE MANAGEMENT SYSTEMS (OMS)
8.5.1 OMS ENABLE ELECTRIC UTILITIES TO MANAGE THEIR POWER OUTAGES EFFECTIVELY AND IMPROVE THEIR RESPONSE TIME
8.6 DISTRIBUTION MANAGEMENT SYSTEMS
8.6.1 DMS FACILITATE EFFECTIVE MANAGEMENT OF ELECTRICITY DISTRIBUTION NETWORKS
8.6.1.1 Case Study: FPT Software
8.7 REMOTE PATIENT MONITORING
8.7.1 REMOTE PATIENT MONITORING REDUCES INSTANCES OF HOSPITALIZATIONS, READMISSIONS, AND HOSPITAL STAYS
8.7.1.1 Case Study: KORE Wireless and BioIntelliSense
8.8 RETAIL MANAGEMENT SOFTWARE
8.8.1 RETAIL MANAGEMENT SOFTWARE HELP IN PLANNING AND REDESIGNING BUSINESS STRATEGIES ACCORDING TO PREVAILING MARKET SCENARIO
8.9 VISUALIZATION SOFTWARE
8.9.1 VISUALIZATION SOFTWARE OFFER REAL-TIME VIDEOS AND DATA ANALYSIS
8.10 TRANSIT MANAGEMENT SYSTEMS
8.10.1 TRANSIT MANAGEMENT SYSTEMS PROVIDE ACCURATE INFORMATION PERTAINING TO LOCATION AND PERFORMANCE OF VEHICLES
8.11 FARM MANAGEMENT SYSTEMS
8.11.1 FARM MANAGEMENT SYSTEMS COMPRISE SOFTWARE AND SERVICES USED FOR PRECISION FARMING
9 IIOT MARKET, BY VERTICAL
9.1 INTRODUCTION
FIGURE 32 MANUFACTURING SEGMENT TO HOLD LARGEST SIZE OF IIOT MARKET FROM 2021 TO 2026
TABLE 26 INDUSTRIAL IOT MARKET, BY VERTICAL, 2017–2020 (USD BILLION)
TABLE 27 INDUSTRIAL IOT MARKET, BY VERTICAL, 2021–2026 (USD BILLION)
9.2 MANUFACTURING
TABLE 28 INDUSTRIAL IOT MARKET FOR MANUFACTURING, BY OFFERING, 2017–2020 (USD BILLION)
TABLE 29 INDUSTRIAL IOT MARKET FOR MANUFACTURING, BY OFFERING, 2021–2026 (USD BILLION)
TABLE 30 INDUSTRIAL IOT MARKET FOR MANUFACTURING, BY REGION, 2017–2020 (USD BILLION)
FIGURE 33 IIOT MARKET FOR MANUFACTURING TO GROW AT HIGHEST CAGR IN APAC FROM 2021 TO 2026
TABLE 31 INDUSTRIAL IOT MARKET FOR MANUFACTURING, BY REGION, 2021–2026 (USD BILLION)
9.3 ENERGY
9.3.1 REMOTE MONITORING OF PLANTS DRIVES THE GROWTH OF IIOT IN ENERGY SECTOR
TABLE 32 INDUSTRIAL IOT MARKET FOR ENERGY, BY OFFERING, 2017–2020 (USD BILLION)
TABLE 33 INDUSTRIAL IOT MARKET FOR ENERGY, BY OFFERING, 2021–2026 (USD BILLION)
TABLE 34 INDUSTRIAL IOT MARKET FOR ENERGY, BY REGION, 2017–2020 (USD BILLION)
TABLE 35 INDUSTRIAL IOT MARKET FOR ENERGY, BY REGION, 2021–2026 (USD BILLION)
9.3.2 SMART GRIDS
9.3.2.1 Growing demand for uninterrupted power supply is leading to increasing deployment of smart grids
9.3.3 OIL & GAS
TABLE 36 INDUSTRIAL IOT MARKET FOR OIL & GAS, BY OFFERING, 2017–2020 (USD BILLION)
FIGURE 34 DEVICE & TECHNOLOGY TO HOLD LARGER SHARE OF IIOT MARKET FOR OIL & GAS FROM 2021 TO 2026
TABLE 37 INDUSTRIAL IOT MARKET FOR OIL & GAS, BY OFFERING, 2021–2026 (USD BILLION)
TABLE 38 INDUSTRIAL IOT MARKET FOR OIL & GAS, BY REGION, 2017–2020 (USD BILLION)
TABLE 39 INDUSTRIAL IOT MARKET FOR OIL & GAS, BY REGION, 2021–2026 (USD BILLION)
9.3.4 METALS & MINING
TABLE 40 INDUSTRIAL IOT MARKET FOR METALS & MINING, BY OFFERING, 2017–2020 (USD BILLION)
TABLE 41 INDUSTRIAL IOT MARKET FOR METALS & MINING, BY OFFERING, 2021–2026 (USD BILLION)
TABLE 42 INDUSTRIAL IOT MARKET FOR METALS & MINING, BY REGION, 2017–2020 (USD BILLION)
FIGURE 35 APAC TO HOLD LARGEST SHARE OF IIOT MARKET FOR METALS & MINING FROM 2021 TO 2026
TABLE 43 INDUSTRIAL IOT MARKET FOR METALS & MINING, BY REGION, 2021–2026 (USD BILLION)
9.4 HEALTHCARE
9.4.1 REMOTE PATIENT MONITORING DURING COVID=189 BOOST THE GROWTH OF IIOT IN HEALTHCARE
TABLE 44 INDUSTRIAL IOT MARKET FOR HEALTHCARE, BY OFFERING, 2017–2020 (USD BILLION)
TABLE 45 INDUSTRIAL IOT MARKET FOR HEALTHCARE, BY OFFERING, 2021–2026 (USD BILLION)
TABLE 46 INDUSTRIAL IOT MARKET FOR HEALTHCARE, BY REGION, 2017–2020 (USD BILLION)
TABLE 47 INDUSTRIAL IOT MARKET FOR HEALTHCARE, BY REGION, 2021–2026 (USD BILLION)
9.5 RETAIL
9.5.1 POINT-OF-SALES (POS)
9.5.1.1 Changing customer requirements supplement boost demand for
POS terminals
9.5.2 INTERACTIVE KIOSKS
9.5.2.1 Rising demand for interactive kiosks to improve overall customer experience
9.5.3 SELF-CHECKOUT SYSTEMS
9.5.3.1 Growing demand for self-checkout systems in developed economies
TABLE 48 INDUSTRIAL IOT MARKET FOR RETAIL, BY OFFERING, 2017–2020 (USD BILLION)
FIGURE 36 SOFTWARE TO GROW AT HIGHER CAGR IN IIOT MARKET FOR RETAIL FROM 2021 TO 2026
TABLE 49 INDUSTRIAL IOT MARKET FOR RETAIL, BY OFFERING, 2021–2026 (USD BILLION)
TABLE 50 INDUSTRIAL IOT MARKET FOR RETAIL, BY REGION, 2017–2020 (USD BILLION)
TABLE 51 INDUSTRIAL IOT MARKET FOR RETAIL, BY REGION, 2021–2026 (USD BILLION)
9.6 TRANSPORTATION
9.6.1 INTELLIGENT SIGNALING SYSTEMS
9.6.1.1 Growing demand for intelligent signaling systems to drive growth of transportation IIoT solutions market
9.6.2 VIDEO ANALYTICS
9.6.2.1 Increasing demand for smart surveillance to fuel growth of video analytics market
9.6.3 INCIDENT DETECTION SYSTEMS
9.6.3.1 Growing deployment of incident detection systems to monitor and detect locations of incidents
9.6.4 ROUTE SCHEDULING GUIDANCE SYSTEMS
9.6.4.1 Increasing adoption of real-time traffic analytics to drive demand for route scheduling guidance systems
TABLE 52 INDUSTRIAL IOT MARKET FOR TRANSPORTATION, BY OFFERING, 2017–2020 (USD BILLION)
TABLE 53 INDUSTRIAL IOT MARKET FOR TRANSPORTATION, BY OFFERING, 2021–2026 (USD BILLION)
TABLE 54 INDUSTRIAL IOT MARKET FOR TRANSPORTATION, BY REGION, 2017–2020 (USD BILLION)
TABLE 55 INDUSTRIAL IOT MARKET FOR TRANSPORTATION, BY REGION, 2021–2026 (USD BILLION)
9.7 AGRICULTURE
9.7.1 PRECISION FARMING
9.7.1.1 Growing adoption of precision farming globally to increase agricultural productivity
9.7.2 LIVESTOCK MONITORING
9.7.2.1 Increasing use of remote sensing and connected technologies
for livestock monitoring
9.7.3 SMART GREENHOUSES
9.7.3.1 Rising adoption of smart greenhouses is expected to boost demand for IIoT solutions worldwide
9.7.4 FISH FARMING
9.7.4.1 Surging use of IIoT solutions to effectively monitor fish farms
TABLE 56 INDUSTRIAL IOT MARKET FOR AGRICULTURE, BY OFFERING, 2017–2020 (USD BILLION)
TABLE 57 INDUSTRIAL IOT MARKET FOR AGRICULTURE, BY OFFERING, 2021–2026 (USD BILLION)
TABLE 58 INDUSTRIAL IOT MARKET FOR AGRICULTURE, BY REGION, 2017–2020 (USD BILLION)
TABLE 59 INDUSTRIAL IOT MARKET FOR AGRICULTURE, BY REGION, 2021–2026 (USD BILLION)
10 GEOGRAPHICAL ANALYSIS
10.1 INTRODUCTION
FIGURE 37 GEOGRAPHIC SNAPSHOT OF IIOT MARKET, 2019
TABLE 60 INDUSTRIAL IOT MARKET, BY REGION, 2017–2020 (USD BILLION)
TABLE 61 INDUSTRIAL IOT MARKET, BY REGION, 2021–2026 (USD BILLION)
10.2 NORTH AMERICA
FIGURE 38 SNAPSHOT OF IIOT MARKET IN NORTH AMERICA
TABLE 62 INDUSTRIAL IOT MARKET IN NORTH AMERICA, BY VERTICAL, 2017–2020 (USD BILLION)
TABLE 63 INDUSTRIAL IOT MARKET IN NORTH AMERICA, BY VERTICAL, 2021–2026 (USD BILLION)
TABLE 64 INDUSTRIAL IOT MARKET IN NORTH AMERICA, BY COUNTRY, 2017–2020 (USD BILLION)
TABLE 65 INDUSTRIAL IOT MARKET IN NORTH AMERICA, BY COUNTRY, 2021–2026 (USD BILLION)
10.2.1 US
10.2.1.1 Presence of major IoT solution providers and significant government support to drive adoption of IIoT solutions
10.2.2 CANADA
10.2.2.1 Increasing investments for development and adoption of IoT technology in critical applications
10.2.3 MEXICO
10.2.3.1 Evolution as industrial hub to boost adoption of IIoT solutions
10.3 EUROPE
FIGURE 39 SNAPSHOT OF IIOT MARKET IN EUROPE
TABLE 66 INDUSTRIAL IOT MARKET IN EUROPE, BY VERTICAL, 2017–2020 (USD BILLION)
TABLE 67 INDUSTRIAL IOT MARKET IN EUROPE, BY VERTICAL, 2021–2026 (USD BILLION)
TABLE 68 INDUSTRIAL IOT MARKET IN EUROPE, BY COUNTRY, 2017–2020 (USD BILLION)
TABLE 69 INDUSTRIAL IOT MARKET IN EUROPE, BY COUNTRY, 2021–2026 (USD BILLION)
10.3.1 UK
10.3.1.1 Increasing adoption of IoT solutions in energy vertical to drive
market growth
10.3.2 GERMANY
10.3.2.1 Surge in deployment of IoT technology in automotive sector to fuel market growth
10.3.3 FRANCE
10.3.3.1 Growing adoption of smart manufacturing to lead to market growth
10.3.4 REST OF EUROPE
10.4 APAC
FIGURE 40 SNAPSHOT OF IIOT MARKET IN APAC
TABLE 70 INDUSTRIAL IOT MARKET IN APAC, BY VERTICAL, 2017–2020 (USD BILLION)
TABLE 71 INDUSTRIAL IOT MARKET IN APAC, BY VERTICAL, 2021–2026 (USD BILLION)
TABLE 72 INDUSTRIAL IOT MARKET IN APAC, BY COUNTRY, 2017–2020 (USD BILLION)
TABLE 73 INDUSTRIAL IOT MARKET IN APAC, BY COUNTRY, 2021–2026 (USD BILLION)
10.4.1 CHINA
10.4.1.1 Increasing deployment of IoT solutions to drive market growth
10.4.2 JAPAN
10.4.2.1 Rising adoption of IIoT solutions to improve productivity and enable process optimization to contribute to market growth
10.4.3 INDIA
10.4.3.1 Large-scale industrial development to boost market
10.4.4 REST OF APAC
10.5 ROW
TABLE 74 INDUSTRIAL IOT MARKET IN ROW, BY VERTICAL, 2017–2020 (USD BILLION)
TABLE 75 INDUSTRIAL IOT MARKET IN ROW, BY VERTICAL, 2021–2026 (USD BILLION)
TABLE 76 INDUSTRIAL IOT MARKET IN ROW, BY COUNTRY, 2017–2020 (USD BILLION)
TABLE 77 INDUTSRIAL IOT MARKET IN ROW, BY COUNTRY, 2021–2026 (USD BILLION)
10.5.1 SOUTH AMERICA
10.5.1.1 Increased focus on connectivity and networking technologies to fuel market growth
10.5.2 MIDDLE EAST
10.5.2.1 Rising demand for IIoT solutions from oil & gas vertical and smart cities to contribute to market growth
10.5.3 AFRICA
10.5.3.1 Surge in demand for IoT solutions from mining to drive market growth
11 COMPETITIVE LANDSCAPE
11.1 INTRODUCTION
11.2 KEY PLAYER STRATEGIES/RIGHT TO WIN
11.3 REVENUE ANALYSIS
FIGURE 41 FIVE-YEAR REVENUE ANALYSIS OF TOP PLAYERS IN INDUSTRIAL IOT MARKET
11.4 MARKET SHARE ANALYSIS, 2020
FIGURE 42 INDUSTRIAL IOT MARKET: MARKET SHARE ANALYSIS (2020)
TABLE 78 INDUSTRIAL IOT MARKET: DEGREE OF COMPETITION
11.5 COMPANY EVALUATION QUADRANT
11.5.1 STAR
11.5.2 PERVASIVE
11.5.3 EMERGING LEADER
11.5.4 PARTICIPANT
FIGURE 43 INDUSTRIAL IOT MARKET COMPANY EVALUATION QUADRANT, 2020
11.5.5 INDUSTRIAL IOT MARKET: COMPANY PRODUCT FOOTPRINT
TABLE 79 COMPANY PRODUCT FOOTPRINT
11.5.6 INDUSTRIAL IOT MARKET: OFFERING FOOTPRINT
TABLE 80 COMPANY OFFERING FOOTPRINT
11.5.7 INDUSTRIAL IOT MARKET: VERTICAL FOOTPRINT
TABLE 81 COMPANY VERTICAL FOOTPRINT
11.5.8 INDUSTRIAL IOT MARKET: REGIONAL FOOTPRINT
TABLE 82 COMPANY REGIONAL FOOTPRINT
11.6 STARTUP/SME EVALUATION QUADRANT, 2020
11.6.1 PROGRESSIVE COMPANY
11.6.2 RESPONSIVE COMPANY
11.6.3 DYNAMIC COMPANY
11.6.4 STARTING BLOCK
FIGURE 44 INDUSTRIAL IOT MARKET STARTUP/SME EVALUATION QUADRANT, 2020
11.7 COMPETITIVE SCENARIO
FIGURE 45 INDUSTRIAL IOT MARKET EVALUATION FRAMEWORK OF MAJOR COMPANIES
11.7.1 EXPANSIONS, ACQUISITIONS, PARTNERSHIPS, AND COLLABORATIONS
TABLE 83 INDUSTRIAL IOT MARKET: DEALS, 2020–2021
11.7.2 PRODUCT LAUNCHES/DEVELOPMENTS
TABLE 84 INDUSTRIAL IOT MARKET: PRODUCT LAUNCHES, 2020–2021
12 COMPANY PROFILES
12.1 KEY PLAYERS
(Business overview, Products offered, Recent Developments, MNM view)*
12.1.1 ABB
TABLE 85 ABB: BUSINESS OVERVIEW
FIGURE 46 ABB: COMPANY SNAPSHOT
12.1.2 GENERAL ELECTRIC
TABLE 86 GENERAL ELECTRIC: BUSINESS OVERVIEW
FIGURE 47 GENERAL ELECTRIC: COMPANY SNAPSHOT
12.1.3 EMERSON ELECTRIC
TABLE 87 EMERSON ELECTRIC: BUSINESS OVERVIEW
FIGURE 48 EMERSON ELECTRIC: COMPANY SNAPSHOT
12.1.4 INTEL
TABLE 88 INTEL: BUSINESS OVERVIEW
FIGURE 49 INTEL: COMPANY SNAPSHOT
12.1.5 CISCO
TABLE 89 CISCO: BUSINESS OVERVIEW
FIGURE 50 CISCO: COMPANY SNAPSHOT
12.1.6 SAP SE
TABLE 90 SAP: BUSINESS OVERVIEW
FIGURE 51 SAP SE: COMPANY SNAPSHOT
12.1.7 HONEYWELL
TABLE 91 HONEYWELL: BUSINESS OVERVIEW
FIGURE 52 HONEYWELL: COMPANY SNAPSHOT
12.1.8 SIEMENS
TABLE 92 SIEMENS: BUSINESS OVERVIEW
FIGURE 53 SIEMENS: COMPANY SNAPSHOT
12.1.9 HUAWEI
TABLE 93 HUAWEI: BUSINESS OVERVIEW
FIGURE 54 HUAWEI: COMPANY SNAPSHOT
12.1.10 ROCKWELL AUTOMATION
TABLE 94 ROCKWELL AUTOMATION: BUSINESS OVERVIEW
FIGURE 55 ROCKWELL AUTOMATION: COMPANY SNAPSHOT
*Details on Business overview, Products offered, Recent Developments, MNM view might not be captured in case of unlisted companies.
12.2 OTHER PLAYERS
12.2.1 ARM HOLDING
12.2.2 PTC
12.2.3 DASSAULT SYSTEMES
12.2.4 SIGFOX
12.2.5 BOSCH
12.2.6 NEC
12.2.7 ANSYS
12.2.8 WORLDSENSING SL
12.2.9 ARUNDO ANALYTICS
12.2.10 BRIGHT MACHINES
12.2.11 TEXAS INSTRUMENTS
12.2.12 KUKA
12.2.13 DRAGOS
12.2.14 GOOGLE
12.2.15 MICROSOFT
13 APPENDIX
13.1 INSIGHTS OF INDUSTRY EXPERTS
13.2 DISCUSSION GUIDE
13.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
13.4 AVAILABLE CUSTOMIZATIONS
13.5 RELATED REPORTS
13.6 AUTHOR DETAILS
1.1 STUDY OBJECTIVES
1.2 DEFINITION
1.3 INCLUSION AND EXCLUSION
1.4 STUDY SCOPE
1.4.1 MARKETS COVERED
FIGURE 1 INDUSTRIAL IOT MARKET
1.4.2 YEARS CONSIDERED
1.5 CURRENCY
1.6 STAKEHOLDERS
1.7 SUMMARY OF CHANGES
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
2.1.1 SECONDARY AND PRIMARY RESEARCH
FIGURE 2 RESEARCH FLOW
FIGURE 3 INDUSTRIAL IOT MARKET: RESEARCH DESIGN
2.1.2 SECONDARY DATA
2.1.3 PRIMARY DATA
2.1.3.1 Primary interviews with experts
2.1.3.2 Key industry insights
2.1.3.3 Breakdown of primary interviews
2.2 MARKET SIZE ESTIMATION
2.2.1 BOTTOM-UP APPROACH
2.2.1.1 Arriving at market size using bottom-up approach (demand side)
FIGURE 4 BOTTOM-UP APPROACH: MARKET SIZE ESTIMATION METHODOLOGY
2.2.2 TOP-DOWN APPROACH
2.2.2.1 Arriving at market size using top-down approach (supply side)
FIGURE 5 TOP-DOWN APPROACH: MARKET SIZE ESTIMATION METHODOLOGY
2.3 RESEARCH ASSUMPTIONS
2.4 LIMITATIONS
2.5 RISK ASSESSMENT
2.6 DATA TRIANGULATION
FIGURE 6 DATA TRIANGULATION
3 EXECUTIVE SUMMARY
3.1 PRE-COVID-19 SCENARIO: INDUSTRIAL IOT MARKET
TABLE 1 PRE-COVID-19 SCENARIO: INDUSTRIAL IOT MARKET, 2020–2026
3.2 POST-COVID-19: REALISTIC SCENARIO
TABLE 2 POST-COVID-19 REALISTIC SCENARIO: INDUSTRIAL IOT MARKET, 2020–2026
3.3 POST-COVID-19: OPTIMISTIC SCENARIO
TABLE 3 POST-COVID-19 OPTIMISTIC SCENARIO: INDUSTRIAL IOT MARKET, 2020–2026
3.4 POST-COVID-19: PESSIMISTIC SCENARIO
TABLE 4 POST-COVID-19 PESSIMISTIC SCENARIO: INDUSTRIAL IOT MARKET, 2020–2026
FIGURE 7 INDUSTRIAL IOT MARKET: REALISTIC, PESSIMISTIC, AND OPTIMISTIC RECOVERY SCENARIOS
3.5 IMPACT OF COVID-19 ON INDUSTRIAL IOT MARKET
FIGURE 8 WIRELESS CONNECTIVITY SEGMENT TO RECORD HIGHEST CAGR IN INDUSTRIAL IOT MARKET DURING FORECAST PERIOD
FIGURE 9 MANUFACTURING EXECUTION SYSTEMS TO DOMINATE INDUSTRIAL IOT MARKET DURING FORECAST PERIOD
FIGURE 10 NETWORKING TECHNOLOGY TO DOMINATE INDUSTRIAL IOT MARKET DURING FORECAST PERIOD
FIGURE 11 MANUFACTURING INDUSTRY TO DOMINATE INDUSTRIAL IOT MARKET DURING FORECAST PERIOD
FIGURE 12 INDUSTRIAL IOT MARKET IN ASIA PACIFIC TO RECORD HIGHEST CAGR DURING FORECAST PERIOD
4 PREMIUM INSIGHTS
4.1 ATTRACTIVE OPPORTUNITIES IN INDUSTRIAL IOT MARKET
FIGURE 13 GROWING DEMAND FROM MANUFACTURING SECTOR DRIVES GROWTH OF INDUSTRIAL IOT MARKET DURING FORECAST PERIOD
4.2 INDUSTRIAL IOT MARKET, BY VERTICAL
FIGURE 14 MANUFACTURING TO HOLD LARGEST SHARE OF INDUSTRIAL IOT MARKET DURING FORECAST PERIOD
4.3 INDUSTRIAL IOT MARKET IN ASIA PACIFIC, BY VERTICAL
FIGURE 15 MANUFACTURING AND CHINA TO HOLD LARGEST SHARES OF INDUSTRIAL IOT MARKET IN ASIA PACIFIC IN 2021
4.4 INDUSTRIAL IOT MARKET, BY GEOGRAPHY
FIGURE 16 US TO HOLD LARGEST SHARE OF INDUSTRIAL IOT MARKET IN 2021
5 MARKET OVERVIEW
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
FIGURE 17 MARKET DYNAMICS: INDUSTRIAL IOT MARKET, 2021
5.2.1 DRIVERS
5.2.1.1 Rapid adoption of artificial intelligence (AI) and Internet of Things (IoT) in manufacturing sector
FIGURE 18 IOT CONNECTED DEVICES, 2020–2026
5.2.1.2 Increased use of cloud computing platforms
5.2.1.3 Standardization of IPv6
TABLE 5 ADOPTION OF IPV6 IN DIFFERENT REGION, 2020
5.2.1.4 Support from governments of various countries for R&D activities related to IIoT
FIGURE 19 INDUSTRIAL IOT MARKET: IMPACT ANALYSIS OF DRIVERS
5.2.2 RESTRAINTS
5.2.2.1 Incompatibility of legacy equipment with communication networks
5.2.2.2 Lack of skilled engineers conversant with new developments in AI and IoT technologies
FIGURE 20 INDUSTRIAL IOT MARKET: IMPACT ANALYSIS OF RESTRAINTS
5.2.3 OPPORTUNITIES
5.2.3.1 Growing application of AI and IoT in medical sector during pandemic
5.2.3.2 Predictive maintenance of machinery
FIGURE 21 INDUSTRIAL IOT MARKET: IMPACT ANALYSIS OF OPPORTUNITIES
5.2.4 CHALLENGES
5.2.4.1 Susceptibility of IoT technologies to cyberattacks
5.2.4.2 Maintenance and updates of IIoT systems
FIGURE 22 INDUSTRIAL IOT MARKET: IMPACT ANALYSIS OF CHALLENGES
5.3 VALUE CHAIN ANALYSIS
FIGURE 23 INDUSTRIAL IOT MARKET: VALUE CHAIN
5.4 TRENDS AND DISRUPTIONS IMPACTING CUSTOMERS’ BUSINESS
FIGURE 24 EDGE COMPUTING TO PRESENT NEW GROWTH OPPORTUNITIES
FOR IIOT COMPANIES
5.5 PORTER’S FIVE FORCES ANALYSIS
TABLE 6 INDUSTRIAL IOT MARKET: PORTER’S FIVE FORCES ANALYSIS, 2020
TABLE 7 INDUSTRIAL IOT MARKET: PORTER’S FIVE FORCES ANALYSIS, 2021-2026
5.6 CASE STUDIES
5.6.1 DIGITAL ROADMAP TO CONNECT 20 PLANTS - ALTIZON’S DATONICS
5.6.2 INTEGRATION OF VARIOUS PRODUCTION LINES USING TELIT’S OFFERING
5.6.3 DIGITAL TRANSFORMATION USING COGNIZANT’S UTILITIES TECHNOLOGY EXPERTISE
5.7 TECHNOLOGY ANALYSIS
5.7.1 CLOUD COMPUTING
5.7.2 5G
5.7.3 EDGE COMPUTING TECHNOLOGY
5.8 INDUSTRIAL IOT MARKET: ECOSYSTEM
TABLE 8 INDUSTRIAL IOT MARKET: ECOSYSTEM
FIGURE 25 KEY PLAYERS IN INDUSTRIAL IOT MARKET
5.9 PRICING ANALYSIS
5.9.1 INDUSTRIAL ROBOTS
TABLE 9 AVERAGE SELLING PRICE OF INDUSTRIAL ROBOTS
5.9.2 MACHINE CONDITION MONITORING SYSTEMS
TABLE 10 AVERAGE SELLING PRICE (ASP) OF MACHINE CONDITION MONITORING SENSORS
TABLE 11 AVERAGE SELLING PRICE (ASP) OF VIBRATION MONITORING SYSTEMS
5.10 TRADE AND TARIFF ANALYSIS
5.10.1 IMPORTS AND EXPORTS SCENARIO
FIGURE 26 IMPORTS DATA FOR MACHINE CONDITION MONITORING PRODUCTS, BY REGION, 2016–2020 (USD MILLION)
TABLE 12 IMPORT DATA FOR MACHINE CONDITION MONITORING PRODUCTS, BY REGION, 2016–2020 (USD MILLION)
FIGURE 27 EXPORT DATAFOR MACHINE CONDITION MONITORING PRODUCTS, BY REGION, 2016–2020 (USD MILLION)
TABLE 13 EXPORT DATA FOR MACHINE CONDITION MONITORING PRODUCTS, 2016?2020 (USD MILLION)
5.10.2 TARIFF ANALYSIS
TABLE 14 TARIFF FOR MACHINE CONDITION MONITORING SYSTEMS EXPORTED
BY AUSTRALIA, 2020
TABLE 15 TARIFF FOR MACHINE CONDITION MONITORING SYSTEMS EXPORTED
BY US, 2020
TABLE 16 TARIFF FOR MACHINE CONDITION MONITORING SYSTEMS EXPORTED
BY BELGIUM, 2020
TABLE 17 TARIFF FOR MACHINE CONDITION MONITORING SYSTEMS EXPORTED
BY CHINA, 2020
5.11 PATENTS ANALYSIS
FIGURE 28 LIST OF MAJOR PATENTS FOR INDUSTRIAL IOT
TABLE 18 PATENTS IN INDUSTRIAL IOT MARKET
5.12 REGULATORY STANDARDS
5.12.1 RESTRICTION OF HAZARDOUS SUBSTANCES (ROHS) AND WASTE ELECTRICAL AND ELECTRONIC EQUIPMENT (WEEE)
5.12.2 IMPORT–EXPORT LAWS
5.12.3 US – FIPS SECURITY LEVEL
5.12.4 EU - CYBERSECURITY ACT 2019
5.12.5 US - NISTR 8295 (2ND DRAFT)
5.13 MARKET STANDARDS
TABLE 19 STANDARDS RELATED TO IOT IN MANUFACTURING
5.13.1 STANDARDS RELATED TO MACHINE CONDITION MONITORING
6 IIOT MARKET, BY DEVICE AND TECHNOLOGY
6.1 INTRODUCTION
TABLE 20 INDUSTRIAL IOT MARKET, BY DEVICE AND TECHNOLOGY, 2017–2020 (USD BILLION)
FIGURE 29 NETWORKING TECHNOLOGY SEGMENT TO HOLD LARGEST SIZE
OF IIOT MARKET FROM 2021 TO 2026
TABLE 21 INDUSTRIAL IOT MARKET, BY DEVICE AND TECHNOLOGY, 2021–2026 (USD BILLION)
6.2 SENSORS
6.2.1 SENSORS ARE EMERGING AS CRITICAL COMPONENTS OF IIOT ECOSYSTEM
6.3 RFID
6.3.1 GROWTH IN ADOPTION OF RFID TECHNOLOGY IN MANUFACTURING, RETAIL, AND HEALTHCARE INDUSTRIES
6.4 INDUSTRIAL ROBOTICS
6.4.1 INDUSTRIAL ROBOTICS ARE EXPECTED TO REVOLUTIONIZE DIFFERENT MANUFACTURING PROCESSES
6.5 DISTRIBUTED CONTROL SYSTEMS (DCS)
6.5.1 RISING USE OF DCS FOR REGULATORY CONTROLS IN MANUFACTURING SECTOR
6.6 CONDITION MONITORING
6.6.1 INCREASE IN DEMAND FOR CONDITION MONITORING TO ENSURE PROPER AND UNINTERRUPTED FUNCTIONING OF INDUSTRIAL MACHINERY
6.7 SMART METERS
6.7.1 SURGING ADOPTION OF SMART METERS IN DOMESTIC AND COMMERCIAL APPLICATIONS
6.8 ELECTRONIC SHELF LABELS (ESL)
6.8.1 GROWING USE OF ESL IN RETAIL STORES FOR PRICE AUTOMATION AND PRODUCT INFORMATION DISPLAY
6.9 CAMERAS
6.9.1 INCREASING ADOPTION OF CAMERAS FOR SECURITY AND SURVEILLANCE APPLICATIONS
6.10 SMART BEACONS
6.10.1 GROWING USE OF SMART BEACONS IN RETAIL VERTICAL
6.11 INTERFACE BOARDS
6.11.1 INTERFACE BOARDS POWER VARIOUS NODES OF INTELLIGENT TRANSPORTATION SYSTEMS IN TRANSPORTATION VERTICAL
6.11.2 MULTIFUNCTIONAL BOARDS
6.11.3 VEHICLE DETECTION BOARDS
6.11.4 COMMUNICATION BOARDS
6.12 YIELD MONITORS
6.12.1 YIELD MONITORS RECORD SITE-SPECIFIC YIELD DATA FOR AGRICULTURISTS
6.13 GUIDANCE & STEERING
6.13.1 INCREASING USE OF GUIDANCE & STEERING SYSTEMS IN PRECISION FARMING
6.14 GPS/GNSS
6.14.1 INCREASING USE OF GPS/GNSS FOR EFFECTIVE NAVIGATION OF VEHICLES
6.15 FLOW & APPLICATION CONTROL DEVICES
6.15.1 INCREASING USE OF FLOW AND APPLICATION CONTROL DEVICES IN VARIABLE RATE APPLICATIONS
6.16 NETWORKING TECHNOLOGY
6.16.1 NUMEROUS MACHINES AND SENSOR NODES ARE CONNECTED TO INTERNET USING NETWORKING TECHNOLOGIES
7 INDUSTRIAL IOT MARKET, BY CONNECTIVITY TECHNOLOGY
7.1 INTRODUCTION
TABLE 22 INDUSTRIAL IOT MARKET, BY CONNECTIVITY TECHNOLOGY, 2017–2020 (USD BILLION)
FIGURE 30 WIRELESS CONNECTIVITY IS EXPECTED TO GROW AT HIGHER CAGR
BETWEEN 2021 AND 2026
TABLE 23 INDUSTRIAL IOT MARKET, BY CONNECTIVITY TECHNOLOGY, 2021–2026 (USD MILLION)
7.2 WIRED TECHNOLOGIES
7.2.1 ETHERNET
7.2.1.1 Modbus
7.2.1.2 PROFINET
7.2.1.3 CC-Link
7.2.2 FOUNDATION FIELDBUS
7.3 WIRELESS TECHNOLOGIES
7.3.1 WI-FI
7.3.2 BLUETOOTH
7.3.3 CELLULAR TECHNOLOGIES
7.3.3.1 4G/LTE
7.3.3.2 5G
7.3.4 SATELLITE TECHNOLOGIES
8 INDUSTRIAL IOT MARKET, BY SOFTWARE
8.1 INTRODUCTION
TABLE 24 INDUSTRIAL IOT MARKET, BY SOFTWARE, 2017–2020 (USD BILLION)
FIGURE 31 REMOTE PATIENT MONITORING SEGMENT WITNESSED HUGE SURGE IN 2020
TABLE 25 INDUSTRIAL IOT MARKET, BY SOFTWARE, 2021–2026 (USD MILLION)
8.2 PRODUCT LIFECYCLE MANAGEMENT (PLM)
8.2.1 PLM ENABLES EFFECTIVE DEVELOPMENT AND INSTALLATION OF PRODUCTS
8.3 MANUFACTURING EXECUTION SYSTEMS (MES)
8.3.1 MES HELP PRODUCTION PLANTS WITH MATERIALS, ORDERS, AND PRODUCTION MANAGEMENT FUNCTIONALITIES
8.4 SCADA
8.4.1 SCADA SYSTEMS HELP IN MAINTAINING AND EFFECTIVELY CONTROLLING DIFFERENT INDUSTRIAL OPERATIONS
8.5 OUTAGE MANAGEMENT SYSTEMS (OMS)
8.5.1 OMS ENABLE ELECTRIC UTILITIES TO MANAGE THEIR POWER OUTAGES EFFECTIVELY AND IMPROVE THEIR RESPONSE TIME
8.6 DISTRIBUTION MANAGEMENT SYSTEMS
8.6.1 DMS FACILITATE EFFECTIVE MANAGEMENT OF ELECTRICITY DISTRIBUTION NETWORKS
8.6.1.1 Case Study: FPT Software
8.7 REMOTE PATIENT MONITORING
8.7.1 REMOTE PATIENT MONITORING REDUCES INSTANCES OF HOSPITALIZATIONS, READMISSIONS, AND HOSPITAL STAYS
8.7.1.1 Case Study: KORE Wireless and BioIntelliSense
8.8 RETAIL MANAGEMENT SOFTWARE
8.8.1 RETAIL MANAGEMENT SOFTWARE HELP IN PLANNING AND REDESIGNING BUSINESS STRATEGIES ACCORDING TO PREVAILING MARKET SCENARIO
8.9 VISUALIZATION SOFTWARE
8.9.1 VISUALIZATION SOFTWARE OFFER REAL-TIME VIDEOS AND DATA ANALYSIS
8.10 TRANSIT MANAGEMENT SYSTEMS
8.10.1 TRANSIT MANAGEMENT SYSTEMS PROVIDE ACCURATE INFORMATION PERTAINING TO LOCATION AND PERFORMANCE OF VEHICLES
8.11 FARM MANAGEMENT SYSTEMS
8.11.1 FARM MANAGEMENT SYSTEMS COMPRISE SOFTWARE AND SERVICES USED FOR PRECISION FARMING
9 IIOT MARKET, BY VERTICAL
9.1 INTRODUCTION
FIGURE 32 MANUFACTURING SEGMENT TO HOLD LARGEST SIZE OF IIOT MARKET FROM 2021 TO 2026
TABLE 26 INDUSTRIAL IOT MARKET, BY VERTICAL, 2017–2020 (USD BILLION)
TABLE 27 INDUSTRIAL IOT MARKET, BY VERTICAL, 2021–2026 (USD BILLION)
9.2 MANUFACTURING
TABLE 28 INDUSTRIAL IOT MARKET FOR MANUFACTURING, BY OFFERING, 2017–2020 (USD BILLION)
TABLE 29 INDUSTRIAL IOT MARKET FOR MANUFACTURING, BY OFFERING, 2021–2026 (USD BILLION)
TABLE 30 INDUSTRIAL IOT MARKET FOR MANUFACTURING, BY REGION, 2017–2020 (USD BILLION)
FIGURE 33 IIOT MARKET FOR MANUFACTURING TO GROW AT HIGHEST CAGR IN APAC FROM 2021 TO 2026
TABLE 31 INDUSTRIAL IOT MARKET FOR MANUFACTURING, BY REGION, 2021–2026 (USD BILLION)
9.3 ENERGY
9.3.1 REMOTE MONITORING OF PLANTS DRIVES THE GROWTH OF IIOT IN ENERGY SECTOR
TABLE 32 INDUSTRIAL IOT MARKET FOR ENERGY, BY OFFERING, 2017–2020 (USD BILLION)
TABLE 33 INDUSTRIAL IOT MARKET FOR ENERGY, BY OFFERING, 2021–2026 (USD BILLION)
TABLE 34 INDUSTRIAL IOT MARKET FOR ENERGY, BY REGION, 2017–2020 (USD BILLION)
TABLE 35 INDUSTRIAL IOT MARKET FOR ENERGY, BY REGION, 2021–2026 (USD BILLION)
9.3.2 SMART GRIDS
9.3.2.1 Growing demand for uninterrupted power supply is leading to increasing deployment of smart grids
9.3.3 OIL & GAS
TABLE 36 INDUSTRIAL IOT MARKET FOR OIL & GAS, BY OFFERING, 2017–2020 (USD BILLION)
FIGURE 34 DEVICE & TECHNOLOGY TO HOLD LARGER SHARE OF IIOT MARKET FOR OIL & GAS FROM 2021 TO 2026
TABLE 37 INDUSTRIAL IOT MARKET FOR OIL & GAS, BY OFFERING, 2021–2026 (USD BILLION)
TABLE 38 INDUSTRIAL IOT MARKET FOR OIL & GAS, BY REGION, 2017–2020 (USD BILLION)
TABLE 39 INDUSTRIAL IOT MARKET FOR OIL & GAS, BY REGION, 2021–2026 (USD BILLION)
9.3.4 METALS & MINING
TABLE 40 INDUSTRIAL IOT MARKET FOR METALS & MINING, BY OFFERING, 2017–2020 (USD BILLION)
TABLE 41 INDUSTRIAL IOT MARKET FOR METALS & MINING, BY OFFERING, 2021–2026 (USD BILLION)
TABLE 42 INDUSTRIAL IOT MARKET FOR METALS & MINING, BY REGION, 2017–2020 (USD BILLION)
FIGURE 35 APAC TO HOLD LARGEST SHARE OF IIOT MARKET FOR METALS & MINING FROM 2021 TO 2026
TABLE 43 INDUSTRIAL IOT MARKET FOR METALS & MINING, BY REGION, 2021–2026 (USD BILLION)
9.4 HEALTHCARE
9.4.1 REMOTE PATIENT MONITORING DURING COVID=189 BOOST THE GROWTH OF IIOT IN HEALTHCARE
TABLE 44 INDUSTRIAL IOT MARKET FOR HEALTHCARE, BY OFFERING, 2017–2020 (USD BILLION)
TABLE 45 INDUSTRIAL IOT MARKET FOR HEALTHCARE, BY OFFERING, 2021–2026 (USD BILLION)
TABLE 46 INDUSTRIAL IOT MARKET FOR HEALTHCARE, BY REGION, 2017–2020 (USD BILLION)
TABLE 47 INDUSTRIAL IOT MARKET FOR HEALTHCARE, BY REGION, 2021–2026 (USD BILLION)
9.5 RETAIL
9.5.1 POINT-OF-SALES (POS)
9.5.1.1 Changing customer requirements supplement boost demand for
POS terminals
9.5.2 INTERACTIVE KIOSKS
9.5.2.1 Rising demand for interactive kiosks to improve overall customer experience
9.5.3 SELF-CHECKOUT SYSTEMS
9.5.3.1 Growing demand for self-checkout systems in developed economies
TABLE 48 INDUSTRIAL IOT MARKET FOR RETAIL, BY OFFERING, 2017–2020 (USD BILLION)
FIGURE 36 SOFTWARE TO GROW AT HIGHER CAGR IN IIOT MARKET FOR RETAIL FROM 2021 TO 2026
TABLE 49 INDUSTRIAL IOT MARKET FOR RETAIL, BY OFFERING, 2021–2026 (USD BILLION)
TABLE 50 INDUSTRIAL IOT MARKET FOR RETAIL, BY REGION, 2017–2020 (USD BILLION)
TABLE 51 INDUSTRIAL IOT MARKET FOR RETAIL, BY REGION, 2021–2026 (USD BILLION)
9.6 TRANSPORTATION
9.6.1 INTELLIGENT SIGNALING SYSTEMS
9.6.1.1 Growing demand for intelligent signaling systems to drive growth of transportation IIoT solutions market
9.6.2 VIDEO ANALYTICS
9.6.2.1 Increasing demand for smart surveillance to fuel growth of video analytics market
9.6.3 INCIDENT DETECTION SYSTEMS
9.6.3.1 Growing deployment of incident detection systems to monitor and detect locations of incidents
9.6.4 ROUTE SCHEDULING GUIDANCE SYSTEMS
9.6.4.1 Increasing adoption of real-time traffic analytics to drive demand for route scheduling guidance systems
TABLE 52 INDUSTRIAL IOT MARKET FOR TRANSPORTATION, BY OFFERING, 2017–2020 (USD BILLION)
TABLE 53 INDUSTRIAL IOT MARKET FOR TRANSPORTATION, BY OFFERING, 2021–2026 (USD BILLION)
TABLE 54 INDUSTRIAL IOT MARKET FOR TRANSPORTATION, BY REGION, 2017–2020 (USD BILLION)
TABLE 55 INDUSTRIAL IOT MARKET FOR TRANSPORTATION, BY REGION, 2021–2026 (USD BILLION)
9.7 AGRICULTURE
9.7.1 PRECISION FARMING
9.7.1.1 Growing adoption of precision farming globally to increase agricultural productivity
9.7.2 LIVESTOCK MONITORING
9.7.2.1 Increasing use of remote sensing and connected technologies
for livestock monitoring
9.7.3 SMART GREENHOUSES
9.7.3.1 Rising adoption of smart greenhouses is expected to boost demand for IIoT solutions worldwide
9.7.4 FISH FARMING
9.7.4.1 Surging use of IIoT solutions to effectively monitor fish farms
TABLE 56 INDUSTRIAL IOT MARKET FOR AGRICULTURE, BY OFFERING, 2017–2020 (USD BILLION)
TABLE 57 INDUSTRIAL IOT MARKET FOR AGRICULTURE, BY OFFERING, 2021–2026 (USD BILLION)
TABLE 58 INDUSTRIAL IOT MARKET FOR AGRICULTURE, BY REGION, 2017–2020 (USD BILLION)
TABLE 59 INDUSTRIAL IOT MARKET FOR AGRICULTURE, BY REGION, 2021–2026 (USD BILLION)
10 GEOGRAPHICAL ANALYSIS
10.1 INTRODUCTION
FIGURE 37 GEOGRAPHIC SNAPSHOT OF IIOT MARKET, 2019
TABLE 60 INDUSTRIAL IOT MARKET, BY REGION, 2017–2020 (USD BILLION)
TABLE 61 INDUSTRIAL IOT MARKET, BY REGION, 2021–2026 (USD BILLION)
10.2 NORTH AMERICA
FIGURE 38 SNAPSHOT OF IIOT MARKET IN NORTH AMERICA
TABLE 62 INDUSTRIAL IOT MARKET IN NORTH AMERICA, BY VERTICAL, 2017–2020 (USD BILLION)
TABLE 63 INDUSTRIAL IOT MARKET IN NORTH AMERICA, BY VERTICAL, 2021–2026 (USD BILLION)
TABLE 64 INDUSTRIAL IOT MARKET IN NORTH AMERICA, BY COUNTRY, 2017–2020 (USD BILLION)
TABLE 65 INDUSTRIAL IOT MARKET IN NORTH AMERICA, BY COUNTRY, 2021–2026 (USD BILLION)
10.2.1 US
10.2.1.1 Presence of major IoT solution providers and significant government support to drive adoption of IIoT solutions
10.2.2 CANADA
10.2.2.1 Increasing investments for development and adoption of IoT technology in critical applications
10.2.3 MEXICO
10.2.3.1 Evolution as industrial hub to boost adoption of IIoT solutions
10.3 EUROPE
FIGURE 39 SNAPSHOT OF IIOT MARKET IN EUROPE
TABLE 66 INDUSTRIAL IOT MARKET IN EUROPE, BY VERTICAL, 2017–2020 (USD BILLION)
TABLE 67 INDUSTRIAL IOT MARKET IN EUROPE, BY VERTICAL, 2021–2026 (USD BILLION)
TABLE 68 INDUSTRIAL IOT MARKET IN EUROPE, BY COUNTRY, 2017–2020 (USD BILLION)
TABLE 69 INDUSTRIAL IOT MARKET IN EUROPE, BY COUNTRY, 2021–2026 (USD BILLION)
10.3.1 UK
10.3.1.1 Increasing adoption of IoT solutions in energy vertical to drive
market growth
10.3.2 GERMANY
10.3.2.1 Surge in deployment of IoT technology in automotive sector to fuel market growth
10.3.3 FRANCE
10.3.3.1 Growing adoption of smart manufacturing to lead to market growth
10.3.4 REST OF EUROPE
10.4 APAC
FIGURE 40 SNAPSHOT OF IIOT MARKET IN APAC
TABLE 70 INDUSTRIAL IOT MARKET IN APAC, BY VERTICAL, 2017–2020 (USD BILLION)
TABLE 71 INDUSTRIAL IOT MARKET IN APAC, BY VERTICAL, 2021–2026 (USD BILLION)
TABLE 72 INDUSTRIAL IOT MARKET IN APAC, BY COUNTRY, 2017–2020 (USD BILLION)
TABLE 73 INDUSTRIAL IOT MARKET IN APAC, BY COUNTRY, 2021–2026 (USD BILLION)
10.4.1 CHINA
10.4.1.1 Increasing deployment of IoT solutions to drive market growth
10.4.2 JAPAN
10.4.2.1 Rising adoption of IIoT solutions to improve productivity and enable process optimization to contribute to market growth
10.4.3 INDIA
10.4.3.1 Large-scale industrial development to boost market
10.4.4 REST OF APAC
10.5 ROW
TABLE 74 INDUSTRIAL IOT MARKET IN ROW, BY VERTICAL, 2017–2020 (USD BILLION)
TABLE 75 INDUSTRIAL IOT MARKET IN ROW, BY VERTICAL, 2021–2026 (USD BILLION)
TABLE 76 INDUSTRIAL IOT MARKET IN ROW, BY COUNTRY, 2017–2020 (USD BILLION)
TABLE 77 INDUTSRIAL IOT MARKET IN ROW, BY COUNTRY, 2021–2026 (USD BILLION)
10.5.1 SOUTH AMERICA
10.5.1.1 Increased focus on connectivity and networking technologies to fuel market growth
10.5.2 MIDDLE EAST
10.5.2.1 Rising demand for IIoT solutions from oil & gas vertical and smart cities to contribute to market growth
10.5.3 AFRICA
10.5.3.1 Surge in demand for IoT solutions from mining to drive market growth
11 COMPETITIVE LANDSCAPE
11.1 INTRODUCTION
11.2 KEY PLAYER STRATEGIES/RIGHT TO WIN
11.3 REVENUE ANALYSIS
FIGURE 41 FIVE-YEAR REVENUE ANALYSIS OF TOP PLAYERS IN INDUSTRIAL IOT MARKET
11.4 MARKET SHARE ANALYSIS, 2020
FIGURE 42 INDUSTRIAL IOT MARKET: MARKET SHARE ANALYSIS (2020)
TABLE 78 INDUSTRIAL IOT MARKET: DEGREE OF COMPETITION
11.5 COMPANY EVALUATION QUADRANT
11.5.1 STAR
11.5.2 PERVASIVE
11.5.3 EMERGING LEADER
11.5.4 PARTICIPANT
FIGURE 43 INDUSTRIAL IOT MARKET COMPANY EVALUATION QUADRANT, 2020
11.5.5 INDUSTRIAL IOT MARKET: COMPANY PRODUCT FOOTPRINT
TABLE 79 COMPANY PRODUCT FOOTPRINT
11.5.6 INDUSTRIAL IOT MARKET: OFFERING FOOTPRINT
TABLE 80 COMPANY OFFERING FOOTPRINT
11.5.7 INDUSTRIAL IOT MARKET: VERTICAL FOOTPRINT
TABLE 81 COMPANY VERTICAL FOOTPRINT
11.5.8 INDUSTRIAL IOT MARKET: REGIONAL FOOTPRINT
TABLE 82 COMPANY REGIONAL FOOTPRINT
11.6 STARTUP/SME EVALUATION QUADRANT, 2020
11.6.1 PROGRESSIVE COMPANY
11.6.2 RESPONSIVE COMPANY
11.6.3 DYNAMIC COMPANY
11.6.4 STARTING BLOCK
FIGURE 44 INDUSTRIAL IOT MARKET STARTUP/SME EVALUATION QUADRANT, 2020
11.7 COMPETITIVE SCENARIO
FIGURE 45 INDUSTRIAL IOT MARKET EVALUATION FRAMEWORK OF MAJOR COMPANIES
11.7.1 EXPANSIONS, ACQUISITIONS, PARTNERSHIPS, AND COLLABORATIONS
TABLE 83 INDUSTRIAL IOT MARKET: DEALS, 2020–2021
11.7.2 PRODUCT LAUNCHES/DEVELOPMENTS
TABLE 84 INDUSTRIAL IOT MARKET: PRODUCT LAUNCHES, 2020–2021
12 COMPANY PROFILES
12.1 KEY PLAYERS
(Business overview, Products offered, Recent Developments, MNM view)*
12.1.1 ABB
TABLE 85 ABB: BUSINESS OVERVIEW
FIGURE 46 ABB: COMPANY SNAPSHOT
12.1.2 GENERAL ELECTRIC
TABLE 86 GENERAL ELECTRIC: BUSINESS OVERVIEW
FIGURE 47 GENERAL ELECTRIC: COMPANY SNAPSHOT
12.1.3 EMERSON ELECTRIC
TABLE 87 EMERSON ELECTRIC: BUSINESS OVERVIEW
FIGURE 48 EMERSON ELECTRIC: COMPANY SNAPSHOT
12.1.4 INTEL
TABLE 88 INTEL: BUSINESS OVERVIEW
FIGURE 49 INTEL: COMPANY SNAPSHOT
12.1.5 CISCO
TABLE 89 CISCO: BUSINESS OVERVIEW
FIGURE 50 CISCO: COMPANY SNAPSHOT
12.1.6 SAP SE
TABLE 90 SAP: BUSINESS OVERVIEW
FIGURE 51 SAP SE: COMPANY SNAPSHOT
12.1.7 HONEYWELL
TABLE 91 HONEYWELL: BUSINESS OVERVIEW
FIGURE 52 HONEYWELL: COMPANY SNAPSHOT
12.1.8 SIEMENS
TABLE 92 SIEMENS: BUSINESS OVERVIEW
FIGURE 53 SIEMENS: COMPANY SNAPSHOT
12.1.9 HUAWEI
TABLE 93 HUAWEI: BUSINESS OVERVIEW
FIGURE 54 HUAWEI: COMPANY SNAPSHOT
12.1.10 ROCKWELL AUTOMATION
TABLE 94 ROCKWELL AUTOMATION: BUSINESS OVERVIEW
FIGURE 55 ROCKWELL AUTOMATION: COMPANY SNAPSHOT
*Details on Business overview, Products offered, Recent Developments, MNM view might not be captured in case of unlisted companies.
12.2 OTHER PLAYERS
12.2.1 ARM HOLDING
12.2.2 PTC
12.2.3 DASSAULT SYSTEMES
12.2.4 SIGFOX
12.2.5 BOSCH
12.2.6 NEC
12.2.7 ANSYS
12.2.8 WORLDSENSING SL
12.2.9 ARUNDO ANALYTICS
12.2.10 BRIGHT MACHINES
12.2.11 TEXAS INSTRUMENTS
12.2.12 KUKA
12.2.13 DRAGOS
12.2.14 GOOGLE
12.2.15 MICROSOFT
13 APPENDIX
13.1 INSIGHTS OF INDUSTRY EXPERTS
13.2 DISCUSSION GUIDE
13.3 KNOWLEDGE STORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
13.4 AVAILABLE CUSTOMIZATIONS
13.5 RELATED REPORTS
13.6 AUTHOR DETAILS
This report focuses on the key industry verticals that are adopting the Industrial Internet of Things to increase productivity and improve safety of their employees and machinery. The report provides the market sizes for wired and wireless technologies that are enabling the Industrial IoT market. However, it does not include further breakdown of wireless technology market sizes into cellular networks, satellite communication, WiFi, and others as well as breakdown of wired technology markets into Ethernet and other technologies. In the case of Industrial IoT market by applications, the scope of the report is limited to qualitative data alone.
Industrial Internet of Things (IIoT) also known as Industrial Internet or Industry 4.0 refers to the devices, sensors, and software that enables connectivity between machines. It can also be described as the unification of complex physical machinery with networked sensors and software.
The overall market for IIoT is forecasted to reach $XX billion by 2020 from $XX billion in 2013, at a CAGR of XX% from 2014 to 2020.
The growth of Industrial IoT market is primarily triggered by technological advancements in hardware, R&D support from governments across the globe, cloud computing and standardization of IPv6. Predictive maintenance and cloud computing are expected to offer very high growth opportunities for IIoT market. However, factors such as lack of standardization in communication protocols, Big Data, along with security and privacy concerns pose as obstacles and serious threat in the growth of IIoT market.
The global Industrial Internet of Things market segmentation revolves around five major verticals, namely: technology, component, industry vertical, application, and geography. The component segment covers basic components such as sensors, valves and actuators, networking components, memory and processors, energy meters and RFID. Two types of technologies are covered in the report namely wired and wireless. Wireless technology leads the market in 2013, with a market worth $XX billion that is projected to reach $XX billion by 2020, at a CAGR of XX% from 2014 to 2020.
